Solo Brands, Inc. (NYSE:DTC) Given Average Rating of “Hold” by Brokerages

Solo Brands, Inc. (NYSE:DTC) has received a consensus recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $2.93.

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $3.00 price objective on shares of Solo Brands in a research report on Monday, September 30th. Citigroup lowered their price target on Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a report on Thursday, August 8th.

Institutional Investors Weigh In On Solo Brands

A number of hedge funds have recently bought and sold shares of DTC. XTX Topco Ltd acquired a new position in Solo Brands during the 3rd quarter worth $25,000. Virtu Financial LLC bought a new position in shares of Solo Brands during the first quarter worth about $42,000. Williams & Novak LLC acquired a new position in Solo Brands in the second quarter worth about $42,000. Dynamic Advisor Solutions LLC bought a new stake in Solo Brands in the second quarter valued at about $43,000. Finally, FMR LLC raised its stake in Solo Brands by 235.1% during the third quarter. FMR LLC now owns 30,232 shares of the company’s stock valued at $43,000 after buying an additional 21,209 shares in the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Solo Brands Stock Down 2.2 %

Shares of NYSE:DTC opened at $1.12 on Friday. The stock has a 50-day simple moving average of $1.37 and a 200-day simple moving average of $1.74. The stock has a market capitalization of $102.17 million, a P/E ratio of -0.32 and a beta of 2.55. Solo Brands has a 1 year low of $1.08 and a 1 year high of $6.36. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.60 and a current ratio of 1.57.

About Solo Brands

Solo Brands, Inc operates a direct-to-consumer platform that offers outdoor and lifestyle branded products in the United States. The company provides camp stoves under the Solo Stove Lite brand name; fire pits under the Solo Stove brand name; kayaks under the Oru brand name; paddle boards under the ISLE brand name; and storage solutions for fire pits, firewood, and other accessories.